§ Mr. Alex CarlileTo ask the Chancellor of the Exchequer if he will institute proceedings, pursuant to section 48 of the Banking Act 1987, against Mr. Bengt Bangstad arising from the Nicholas Young Ponzi fraud; and if he will make a statement.
§ Mr. Maples[holding answer 3 March 1992]: My right hon. Friend the Chancellor of the Exchequer has no powers to institute proceedings under section 48 of the Banking Act 1987. That is a matter for the Bank of England.